Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

Change font size:   

June 2012 | Steel Raw Materials


Prices receive a boost from limited restocking: Iron Ore Highlights


Brazil’s mining institute expects domestic iron ore output to grow by 5% in 2012.

Despite the pessimism in the market, consumers have been lured back by attractive prices. Chinese steel mills have essentially taken this recent buying opportunity to cautiously top up their inventories; overall levels of which had reduced, from around 30 days forward supply to 20 days. Week-on-week prices for Chinese import fines (Fe 63.5%) and pellets (65-66% Fe) increased marginally by 0.7% to $137.50/tonnes CFR and by 0.6% to $166.50/tonne CFR, respectively. Although Chinese domestic material prices also rose (average of a selection of prices), those for concentrate climbed steeply by 2.3% to $161.08/tonne, while those for pellets inched higher by 0.3% to $177.77/tonne. Direct sales by the major miners were also stronger. BHP-Billiton sold a cargo of Newman iron ore fines (Fe 62.7%) at $139/tonne during the week, up by $0.50/tonne on a previous sale, while Vale sold a cargo...

ACCESS RESTRICTED

You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.


SUBSCRIBE


Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.

Subscribe


Already subscribed?